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Wed 6 Jun 2018 08:24

Oil and fuel oil hedging market update


By the Oil Desk at Freight Investor Services.

Commentary

Brent crude rose 78 cents to $76.16 a barrel by 06:45 GMT after dropping to its lowest since May 8 on Tuesday. WTI futures were up 33 cents at $65.85 a barrel, having touched a near two-month low on Tuesday. We've seen some support today as the API has predicted a 2 million barrel draw of U.S. crude stockpiles. So Trump and Kim will be meeting on the Singaporean island of Sentosa, a name which translates as 'peace and tranquility'. It's definitely not a word that you would use for the oil market right now. Oil markets have moved their gaze away to concentrate on the tussle between falling supply from Venezuela and Iran against the request of the U.S. for OPEC to start producing more oil. EIA data at 3.30pm UK time. Good day.

Economic data/events (Times are London.)

* 12pm: U.S. MBA Mortgage Applications for June 1

* 1:30pm: U.S. Trade Balance for April

* 3:30pm: U.S. EIA weekly oil inventory report

* Platts Global Crude Oil Summit, final day

* Genscape weekly ARA crude stockpiles report

Singapore 380 cSt

Jul18 - 437.75 / 439.75

Aug18 - 433.00 / 435.00

Sep18 - 428.50 / 430.50

Oct18 - 424.50 / 426.50

Nov18 - 421.00 / 423.00

Dec18 - 417.50 / 419.50

Q3-18 - 433.00 / 435.00

Q4-18 - 421.00 / 423.00

Q1-19 - 409.25 / 411.75

Q2-19 - 396.75 / 399.25

CAL19 - 373.50 / 376.50

CAL20 - 301.00 / 306.00

Singapore 180 cSt

Jul18 - 448.50 / 450.50

Aug18 - 444.25 / 446.25

Sep18 - 440.00 / 442.00

Oct18 - 436.00 / 438.00

Nov18 - 432.00 / 434.00

Dec18 - 428.75 / 430.75

Q3-18 - 444.25 / 446.25

Q4-18 - 432.00 / 434.00

Q1-19 - 420.50 / 423.00

Q2-19 - 408.50 / 411.00

CAL19 - 388.00 / 391.00

CAL20 - 315.00 / 320.00

Rotterdam 3.5%

Jul18 - 420.50 / 422.50

Aug18 - 417.00 / 419.00

Sep18 - 412.75 / 414.75

Oct18 - 408.25 / 410.25

Nov18 - 403.75 / 405.75

Dec18 - 399.25 / 401.25

Q3-18 - 416.75 / 418.75

Q4-18 - 404.00 / 406.00

Q1-19 - 393.00 / 395.50

Q2-19 - 380.00 / 382.50

CAL19 - 352.50 / 355.50

CAL20 - 286.00 / 291.00

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Singapore-based tanker operator to expand dual-fuel fleet with vessels featuring advanced efficiency and emissions reduction technologies.
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Estonian and Swedish ports sign MoU to promote sustainable maritime transport on Baltic Sea routes.
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Factory tests show methane emissions far below FuelEU Maritime threshold on newbuild.
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Feasibility study to assess 500,000 tonne per year green ammonia facility in northern Tasmania.
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Facility will initially serve Windcat's Hydrocat 48 as part of EU-funded demonstration project.
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Ship manager introduces simulator and courses to train crew in safe handling of methanol fuel.
ATH Catamba vessel. ATH Trading adds bunker tanker to Angola fleet  

Commodity trader deploys M/T ATH Catamba in Luanda for offshore marine fuel supply operations.
European Union member state flags. Danish Shipping calls for EU to invest ETS revenues in green marine fuel production  

Industry body welcomes Commission's sustainable transport plan but urges concrete action on funding.




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